New York, United States , March 13, 2023 (GLOBE NEWSWIRE) -- The Global Network Attached Storage Market Size is to grow from USD 26.03 billion in 2021 to USD 80.45 billion by 2030, at a Compound Annual Growth Rate (CAGR) of 18.1% during the forecast period. Network Attached Storage adoption is increasing in various industries, including consumer goods, e-commerce & retail, telecommunications & ITES, healthcare, energy, manufacturing, business & consulting, aerospace & defence, automotive, food processing, logistics, and others.
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Network attached storage is booming in small and medium-sized companies, due to its cost-efficient and reliable functionalities for small and start-up offices. Network attached storages are efficient, has smooth data backup, and promote secure data centralization with affordability. With increased expenditure in 4G & 5G and the rise in the business of millions of devices are driving the demand for market growth and the advancement of smart cities, factories, and smart agriculture. These crucial aspects are expected to contribute to the increasing adoption of network attached storage among industries.
The midmarket solutions segment is witnessing significant CAGR growth over the forecast period.
On the basis of product, the Global Network Attached Storage Market is segmented into enterprise solutions and midmarket solutions. Among these, the midmarket solutions segment is witnessing significant CAGR growth over the forecast period. With the increasing penetration of electronic gadgets like smartphones, tablets, computers, and other connected devices, the volume of digital content in the form of unstructured data has increased the demand for midmarket network attached storage market.
The 1 bay to 8 bays segment holds the largest market share over the forecast period.
On the basis of design, the Global Network Attached Storage Market is segmented from 1 bay to 8 bays, 8 bays to 12 bays, 12 bays to 20 bays, and more than 20 bays. Among these, the 1 bay to 8 bays segment holds the largest market share over the forecast period. The rising popularity and development of these network attached storage systems by small and medium-sized organizations, research centers, and media & entertainment professionals such as photographers and video editors might be credited to the segment's growth.
Browse 333 market data Tables and 47 Figures spread through 279 Pages and in-depth TOC on the, "Global Network Attached Storage Market Size, Share, and COVID-19 Impact Analysis, By Product (Enterprise Solutions, Midmarket Solutions), By Design (1 Bay to 8 Bays, 8 Bays to 12 Bays, 12 Bays to 20 Bays and More than 20 Bays), By Storage Solution (Scale-up, Scale-out), By End User (Banking, Financial Services, Insurance, Consumer Goods, E-Commerce & Retail, Telecommunications & ITES, Healthcare, Energy, Government, Education & Research, Media & Entertainment, Manufacturing, Business & Consulting, Aerospace & Defence, Automotive, Food Processing, Logistics, Others) and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2021 – 2030". Get Detailed Description For This Report.
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The scale-out segment is witnessing the highest growth rate over the forecast period.
On the basis of storage solutions, the Global Network Attached Storage Market is segmented into scale-up and scale-out. Among these, the scale-out segment is witnessing the highest growth rate over the forecast period. Owing to the increasing development of advanced Scale-out solutions that facilitate superior performance and employ improved efficiency and agility the scale-out segment is expected to witness the highest growth rate during the projected time period.
The telecommunications & IT segment is dominating the market with the largest market share of 47% over the forecast period.
Based on the end use, the Global Network Attached Storage Market Size is segmented into banking, financial services, insurance, consumer goods, e-commerce & retail, telecommunications & ITES, healthcare, energy, government, education & research, media & entertainment, manufacturing, business & consulting, aerospace & defense, automotive, food processing, logistics, and others. Among these, the telecommunications & IT segment dominates the market with the largest market share of 47% over the forecast period. Due to a rise in internet users and innovative technology, telecom service providers are experiencing difficulty storing data.
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North America is dominating the market with the largest market share of 58%.
North America, with a 58% market share, is expected to be the industry's leading region during the forecast period owing to its early adoption of advanced analytics solutions including massive data storage requirements. The increased adoption of network attached storage systems is a result of the growing development of hybrid cloud storage. The demand for network attached storage by technology startups in the United States might result in a considerable boost in demand for the overall U.S. market.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global network attached storage market size include IBM, Nasuni Corporation, Hitachi Data Systems Corporation, Panasas, Overland Storage Inc., Pure Storage, Inc., Thecus Technology Corp, Cisco Systems, Inc., D-Link Corporation, Huawei Technologies Co., Ltd., ASUSTOR Inc., QNAP Systems, Inc., Infortrend Technology Inc., Synology, Inc., WESTERN DIGITAL CORPORATION, SoftNAS, Inc., Microsoft, Dell EMC, Hewlett-Packard Enterprise Company, SGI Corporation, Drobo, Inc., Hewlett Packard Enterprise Company LP, Buffalo Americas, Inc., NETGEAR, Inc., LSI Corporation, SEAGATE TECHNOLOGY PUBLIC LIMITED COMPANY, and among others.
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